Wednesday 23 October 2013

Commodity Market Update (Crude Oil)

Precious Metals are trading marginally lower today with Gold and Silver trading down by 0.72% each at 1333.0 and 22.6 respectively. Intraday outlook remains bearish but overall outlook stands positive for the bullion. Base metals prices are trading in red on LME Copper led the declines by logging a decline of 0.70% and trading at 7265.0, rest of the metals are lower around half a percent as we write this. Short term view remains negative for base metals. Crude Oil and Natural Gas on NYM are trading mixed today, the actively traded Crude Oil contract is down by more than a percent at 97.38 while Natural Gas is up by 0.45% at 3.957.

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